UAE Business: New utility token focused on nickel set for launch – Gulf Digital News

  • Date: 02-Dec-2022
  • Source: Gulf Digital News
  • Sector:Technology
  • Country:UAE
  • Who else needs to know?

UAE Business: New utility token focused on nickel set for launch – Gulf Digital News

A new utility token focused on nickel will be launched in Dubai next week to capitalise on the metal's growing importance in the global economy.

The new Nikel token is the first initiative from NewTek in its mission to open one of the biggest asset classes to the masses by building blockchain-enabled commodity businesses, said a statement.

On December 6, the utility token will be listed on the EU-based centralised exchange, Digital Financial Exchange (DIFX), and on Coinstore, the centralised cryptocurrency exchange registered in Singapore. This will give the Nikel token immediate exposure to more than 1.8 million registered users in 175 countries.

“The token will build a community with the ability to impact, and shape, the exploration, mining, product manufacturing and research and development for all things nickel,” said Safi Qurashi, CEO of NewTek.

“We decided to launch the token first in Dubai in view of the Emirate’s status as an emerging crypto hub dedicated to developing a regulatory ecosystem for the growth of the domestic crypto sector.

“Our objectives are to inspire those who wish to ensure that commodities impact our planet in a greener, more sustainable way, and create wealth distribution to a larger proportion of the population.”

“Harnessing the power of blockchain